Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

v3.3.1.900
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows used in operating activities:      
Net loss $ (20,606) $ (38,301) $ (124,058)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation 1,532 1,856 2,575
Common stock contribution to 401(k) 986 870 828
Stock-based compensation expense 9,727 10,772 5,099
Revaluation of contingent warrant liabilities (17,812) (45,773) 61,039
Amortization of debt discount, final payment fee on debt, and debt issuance costs 1,413 2,707 2,470
Gain on sale of business in connection with Agenus asset purchase agreement (3,505)    
(Gain) loss on sale and retirement of property and equipment (18)   281
Loss on loan extinguishment 429    
Unrealized (gain) loss on foreign currency exchange (1,870) (2,280) 662
Unrealized loss on foreign exchange options 6 355 127
Other non-cash adjustments   (9) (20)
Changes in assets and liabilities:      
Trade and other receivables, net (761) 472 4,486
Prepaid expenses and other current assets (28) (662) 481
Accounts payable and accrued liabilities (1,621) (3,774) 2,901
Accrued interest on interest bearing obligations 380 (1,444) 2,284
Deferred revenue 356 (2,983) (3,399)
Other liabilities 500 (88) (1,671)
Net cash used in operating activities (30,892) (78,282) (45,915)
Cash flows from investing activities:      
Purchase of investments     (19,991)
Proceeds from maturities of investments   20,000 40,000
Purchases of property and equipment (430) (325) (1,169)
Proceeds from sale of business in connection with Agenus asset purchase agreement 4,862    
Proceeds from sale of property and equipment 18    
Net cash provided by investing activities 4,450 19,675 18,840
Cash flows from financing activities:      
Proceeds from issuance of common stock, net of issuance costs 481 41,442 84,338
Proceeds from exercise of warrants 1 35 2,176
Proceeds from issuance of long term debt 20,000    
Debt issuance costs and loan fees (512)    
Principal payments – debt (6,128) (5,917) (3,125)
Principal payments – capital lease (41)    
Net cash provided by financing activities 13,801 35,560 83,389
Effect of exchange rate changes on cash (37) (167)  
Net (decrease) increase in cash and cash equivalents (12,678) (23,214) 56,314
Cash and cash equivalents at the beginning of the year 78,445 101,659 45,345
Cash and cash equivalents at the end of the year 65,767 78,445 101,659
Supplemental Cash Flow Information:      
Cash paid for interest 1,927 3,009 1,262
Non-cash investing and financing activities:      
Marketable securities received in conjunction with the disposal of business 496    
Equipment acquired through capital lease 323    
Reclassification of contingent warrant liability to equity upon exercise of warrants (3,552) (2,526) (6,171)
Issuance of warrants 450 10,258  
Interest added to principal balances on long-term debt $ 327 $ 313 935
Investment in Symplmed Pharmaceuticals, LLC     $ 171